EUR/USD Weekly downtrend opportunity based on 1.00 Lot Calculation:
- EVENT: Sunday, September 26 – The German parliamentary elections. The center-left party (SDP) in Germany is leading in polls before the elections. Their candidate for chancellor, Olaf Schulz, is not excluding the possibility to form a coalition with the radical left. This may weigh on the common European currency.
- The lower-than-expected (preliminary) PMIs in the euro zone released today, suggest that the European economic recovery will be slow;
- The currency pair is in the long-term downtrend that may continue.
EUR/USD, September 23, 2021
Current Price: 1.1729
|
EUR/USD |
Weekly |
|
Trend Direction |
|
|
1.1859 |
|
|
1.1839 |
|
|
1.1819 |
|
|
1.1639 |
|
|
1.1619 |
|
|
1.1599 |
Example of calculation based on weekly trend direction for 1.00 Lot*
|
Profit or loss Short in $ |
-1,300 |
-1,100 |
-900 |
900 |
1,100 |
1,300 |
|
Profit or loss Short in €** |
-1,109 |
-938 |
-768 |
768 |
938 |
1,109 |
|
Profit or loss Short in £** |
-951 |
-805 |
-659 |
659 |
805 |
951 |
|
Profit or loss Short in C$** |
-1,646 |
-1,392 |
-1,139 |
1,139 |
1,392 |
1,646 |
* 1.00 lot is equivalent of 100,000 units
** Calculations for exchange rate used as of 10:20 am (GMT+1) 23/9/2021
Fortrade recommends the use of Stop-Loss and Take-Profit, please speak to your Client Manager regarding their use.
*** You may wish to consider closing your position in profit, even if it is lower than suggested one
**** Trailing stop technique can protect the profit – Ask your Client Manager for more details